Anurag Thakur unveils incentive programmes for foreign films in India

During his visit to the 75th Cannes Film Festival on Wednesday, Information and Broadcasting Minister Anurag Thakur opened the India Pavilion at the Cannes Film Market 'Marche du Film.'
Thakur, who led the Indian team to the annual film gala, where India is the 'Country of Honour,' unveiled two incentive programmes for foreign filmmakers who shoot in India or co-produce films with Indian collaborators.
International film production companies can claim a reimbursement of up to 30% (up to Rs 2 crore) on qualifying expenditure in India for official co-productions, he said. Foreign films that employ 15% or more manpower in India would be eligible for a 5% incentive of up to Rs 50 lakh (USD 65,000).
These programmes will encourage international collaboration and encourage foreign filmmakers to shoot in India. The incentives will be available for film projects that have been given "co-production" status by the I&B ministry and a country that has signed bilateral co-production treaties.
Thakur claimed that the streaming revolution is causing a paradigm shift in Indian filmmaking. The Indian film industry, the world's largest, produces around 2000 films per year. He also mentioned that the Indian government is on a mission to restore and preserve Indian cinema for future generations. Under the National Film Heritage Mission, it has begun the world's largest film restoration initiative, which will see 2200 films restored to their former splendour in Indian languages.

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